The French government will lend Sudan $1.5 billion to help the African nation pay off its massive debt to the International Monetary Fund as it emerges from decades of authoritarian rule, Finance Minister Bruno Le Maire said Monday. “President Macron will confirm later today that France will provide the $1.5 billion bridge loan to clear…
Its been six months since the day Erins husband stopped talking to her. She laughs when she mentions the seven days of the silent treatment, a distinctly Midwestern shrug that makes its way along Iowa phone lines. The laugh seems intended to reframe her tribulations and make them feel manageable, but it was the very…
State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday. According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency…
THE insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019 the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value of the profession: how insolvency and restructuring supports the UK…
Kevin James Musson (64) and his son Ryan Kevin Musson (39), both of Cumbria, worked as roofers for Cumbria Roofing North West Ltd. The company was incorporated in June 2009 but went into creditors voluntary liquidation 8 years later in May 2017, triggering an investigation by the Insolvency Service. The investigation discovered that while Ryan…
Banks should be placed under a legal duty of care to help stop problem gamblers spending money they cannot afford, says a think tank led by former Tory leader Iain Duncan Smith. The study by the Centre for Social Justice Justice (CSJ) proposes a new ombudsman with powers to order the betting firms to slow…
Analysis of ASIC and ABN Lookup data reveals the full list of companies to close down in your area over the past year, updated hourly throughout the day. THERE has been one company liquidation notice in the Yarra Ranges Local Government Area today and 12 for the past year. News Corp analysis of ASIC Insolvency…
With political commentators discussing whether the latest Federal Budget has put Australia into too much debt (well leave that debate to the experts), some everyday Aussies may be concerned about the debts in their own household budgets, and what they could mean for their financial futures. Similar questions were asked back in 2017, when current…
NEW DELHI: The Reserve Bank of India (RBI) has shot down suggestions of a fresh suspension of the Insolvency & Bankruptcy Code (IBC) due to the second wave of Covid-19, while making it clear that banks can still restructure distressed but viable loans, ensuring that their balance sheets remain transparent.During initial discussions with the government,…